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Ocugen Valuation Multiples

Discover revenue and EBITDA valuation multiples for Ocugen and similar public comparables like Vivoryon Therapeutics, Pharming, and Galapagos.

Ocugen Overview

About Ocugen

Ocugen Inc company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve health and offer hope for patients across the globe. The company's pipeline includes Modifier Gene Therapy Platform, Novel Biologic Therapy for Retinal Diseases, Regenerative Medicine Cell Therapy Platform, Inhaled Mucosal Vaccine Platform. The company is developing a modifier gene therapy platform designed to fulfill unmet medical needs related to retinal diseases, including inherited retinal diseases ("IRDs"), such as RP, LCA, Stargardt disease, and multifactorial diseases such as dAMD and Geographic Atrophy ("GA").


Founded

2000

HQ

United States of America
Employees

95

Website

ocugen.com

Financials

LTM Revenue $2.9M

LTM EBITDA n/a

EV

$170M

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Ocugen Financials

Ocugen has a last 12-month revenue of $2.9M and a last 12-month EBITDA of n/a.

In the most recent fiscal year, Ocugen achieved revenue of $4.1M and an EBITDA of -$52.8M.

Ocugen expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Ocugen P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $6.0M $4.1M XXX XXX XXX
Gross Profit n/a n/a XXX XXX XXX
Gross Margin NaN% NaN% XXX XXX XXX
EBITDA -$64.8M -$52.8M XXX XXX XXX
EBITDA Margin -1074% -1302% XXX XXX XXX
Net Profit -$81.4M -$63.1M XXX XXX XXX
Net Margin -1348% -1556% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Ocugen Stock Performance

As of April 15, 2025, Ocugen's stock price is $1.

Ocugen has current market cap of $196M, and EV of $170M.

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Ocugen Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$170M $196M XXX XXX XXX XXX $-0.21

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Ocugen Valuation Multiples

As of April 15, 2025, Ocugen has market cap of $196M and EV of $170M.

Ocugen's trades at 58.9x LTM EV/Revenue multiple, and n/a LTM EBITDA.

Analysts estimate Ocugen's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Ocugen Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $170M XXX XXX XXX
EV/Revenue 41.9x XXX XXX XXX
EV/EBITDA -3.2x XXX XXX XXX
P/E -3.6x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -3.7x XXX XXX XXX

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Ocugen Valuation Multiples

Ocugen's NTM/LTM revenue growth is -89%

Ocugen's revenue per employee for the last fiscal year averaged $43K, while opex per employee averaged $0.6M for the same period.

Over next 12 months, Ocugen's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Ocugen's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Ocugen Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -33% XXX XXX XXX XXX
EBITDA Margin -1302% XXX XXX XXX XXX
EBITDA Growth -19% XXX XXX XXX XXX
Rule of 40 (SaaS-only) -1391% XXX XXX XXX XXX
Revenue per Employee $43K XXX XXX XXX XXX
Opex per Employee $0.6M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 658% XXX XXX XXX XXX
R&D Expenses to Revenue 792% XXX XXX XXX XXX
Opex to Revenue 1450% XXX XXX XXX XXX

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Ocugen Public Comps

See public comps and valuation multiples for Drug Development & Therapeutics and Vaccines & Immunotherapies comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Julphar XXX XXX XXX XXX XXX XXX
Benevolent AI XXX XXX XXX XXX XXX XXX
Galapagos XXX XXX XXX XXX XXX XXX
Pharming XXX XXX XXX XXX XXX XXX
Vivoryon Therapeutics XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Ocugen M&A and Investment Activity

Ocugen acquired  XXX companies to date.

Last acquisition by Ocugen was  XXXXXXXX, XXXXX XXXXX XXXXXX . Ocugen acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Ocugen

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Ocugen

When was Ocugen founded? Ocugen was founded in 2000.
Where is Ocugen headquartered? Ocugen is headquartered in United States of America.
How many employees does Ocugen have? As of today, Ocugen has 95 employees.
Who is the CEO of Ocugen? Ocugen's CEO is Dr. Shankar Musunuri, M.B.A.,PhD.
Is Ocugen publicy listed? Yes, Ocugen is a public company listed on NAS.
What is the stock symbol of Ocugen? Ocugen trades under OCGN ticker.
When did Ocugen go public? Ocugen went public in 2014.
Who are competitors of Ocugen? Similar companies to Ocugen include e.g. Julphar, Benevolent AI, Galapagos, Pharming.
What is the current market cap of Ocugen? Ocugen's current market cap is $196M
What is the current revenue of Ocugen? Ocugen's last 12-month revenue is $2.9M.
What is the current EV/Revenue multiple of Ocugen? Current revenue multiple of Ocugen is 58.9x.
What is the current revenue growth of Ocugen? Ocugen revenue growth between 2023 and 2024 was -33%.
Is Ocugen profitable? Yes, Ocugen is EBITDA-positive (as of the last 12 months).

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